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Portfolio (Quarterly) Guide ↗

Cullen/Frost Bankers, Inc.

· CIK 0000039263
13F Portfolio $8.8B AUM 1,393 positions Filed May 5, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 136 New 549 Added 439 Reduced 192 Exited
Page 3 of 28  ·  549 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 UNH UNITEDHEALTH GROUP INC COM Healthcare 82,527.0 $22.3M 0.25% +9K +12.3% $270.59 +48.2%
42 BA BOEING CO COM Industrials 110,957.0 $22.1M 0.25% +88K +391.2% $199.03 +11.9%
43 ICE INTERCONTINENTAL EXCHANGE IN COM Financial Services 137,911.0 $21.7M 0.25% +5K +3.6% $157.28 -14.9%
44 ADI ANALOG DEVICES INC COM Technology 66,975.0 $21.3M 0.24% +3K +4.4% $318.14 +36.6%
45 IBM INTERNATIONAL BUSINESS MACHS COM Technology 87,847.0 $21.3M 0.24% +709.0 +0.8% $242.39 +2.8%
46 TMO THERMO FISHER SCIENTIFIC INC COM Healthcare 42,157.0 $20.7M 0.23% +4K +10.0% $491.53 -5.5%
47 AMAT APPLIED MATLS INC COM Technology 57,196.0 $19.5M 0.22% +11K +22.8% $341.79 +80.6%
48 PSA PUBLIC STORAGE OPER CO COM Real Estate 67,749.0 $18.4M 0.21% +28K +69.8% $270.88 +17.4%
49 RIO RIO TINTO PLC SPONSORED ADR Basic Materials 195,769.0 $18.3M 0.21% +10K +5.2% $93.29 +7.3%
50 AMD ADVANCED MICRO DEVICES INC COM Technology 89,741.0 $18.3M 0.21% +940.0 +1.1% $203.43 +164.2%
51 ADP AUTOMATIC DATA PROCESSING IN COM Industrials 88,706.0 $18.0M 0.20% +1K +1.1% $203.18 +7.5%
52 T AT&T INC COM Communication Services 608,782.0 $17.6M 0.20% +12K +2.1% $28.99 -24.1%
53 PLD PROLOGIS INC. COM Real Estate 132,977.0 $17.6M 0.20% +31K +30.7% $132.18 +6.3%
54 LIN LINDE PLC SHS Basic Materials 33,638.0 $16.7M 0.19% +3K +11.2% $495.75 +3.3%
55 MAR MARRIOTT INTL INC NEW CL A Consumer Cyclical 50,915.0 $16.7M 0.19% +1K +3.0% $327.07 +21.1%
56 AON AON PLC SHS CL A Financial Services 50,781.0 $16.4M 0.19% +558.0 +1.1% $322.78 -1.6%
57 MO ALTRIA GROUP INC COM Consumer Defensive 246,746.0 $16.3M 0.18% +4K +1.4% $65.99 +4.7%
58 EEM ISHARES TR MSCI EMG MKT ETF 281,541.0 $16.0M 0.18% +14K +5.2% $56.79 +24.7%
59 RSP INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 81,786.0 $15.7M 0.18% +40K +96.9% $191.92 +9.4%
60 CINF CINCINNATI FINL CORP COM Financial Services 99,293.0 $15.6M 0.18% +3K +2.8% $157.35 +8.2%
Page 3 of 28  ·  549 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 31.6%
Financial Services 14.8%
Healthcare 10.5%
Communication Services 10.5%
Consumer Cyclical 9.9%
Industrials 6.8%
Consumer Defensive 6.2%
Energy 4.9%
Utilities 1.9%
Basic Materials 1.6%